How your home is presented to the public is a critical part of getting it sold.  No matter the size or price of your home, it's all about professionalism in every aspect of the job.  If you like what you see and want your home included on the list, give me a call.

Those of us who live real estate all day every day know that something happened in the 3rd quarter.  This market started to turn around and homes started moving again.
 
I think there were two major factors that have contributed to the turn around: 1) buyers and sellers realized that there weren’t going to be any more stimulus programs.  The national economy just wasn’t going to support more government spending at that level.  2) Interest rates have been at phenomenally low levels.  Those low rates have a tremendous impact on affordability and drove buyers who were on the fence into the market.
 
Digging a little deeper into the data you can also see that there was a corresponding shift in the average price of sold homes. 

There are lots of possible reasons for this.  It could be that there were more sales in the lower price ranges.  It could be that we had fewer high-end sales.   It could be that we had more foreclosures.  But the most logical reason for this is that home prices have genuinely come down.   And, in fact, if you go through the data neighborhood by neighborhood, you will see that more often than not, that is the case.
 
How much have home prices come down?  That depends on the house, it’s condition, and the neighborhood.  There are areas in Baton Rouge where home values really haven’t been affected.  And, there are others where there have been significant declines in the average sales price per square foot.  One thing I feel really comfortable saying is that a home in a good location, in good condition, priced right, and professionally marketed is going to sell.  And, if you are a buyer, it’s time to make your move!  The market has shifted, the rates are low, and the local economy is in reasonably good shape.
 
If a move is in your future, please give me a call.  Till next time.

I am pleased to announce that I have joined a team of
exceptional agents at RE/MAX Professional.

I look forward to continuing to serve you at
8556 Jefferson Highway, Suite A
Baton Rouge, LA  70809

Office:  (225) 615-7755 | Fax:  (225) 615-7795 | Cell: (225) 772-8709
Each office independently owned and operated. 
Licensed in Louisiana, USA

If you see something you like and want to see more, give me a call and I'll schedule an appointment for us. You can send me an email right from the app or click on the phone number to give me a call.

Home Sales are Picking Up

Home sales are seasonal.   The number of homes sold tend to bottom out in January and peak in June and July as families complete their moves before the school year begins. And, while we were off to a slow start this year, the past few months have been good.  In fact, August sales in areas 4, 5, and 6 put in their strongest showing in 3 years. (August 2009 - 287 homes sold, August 2010 - 229 homes sold, August 2011 - 302 homes sold). 

What I think is really important about this is that the improvement in home sales has been accomplished without additional tax credits.  Yes, they were great and they helped us sell homes in the Spring of 2010.  But, they didn’t help long term.  They just shifted demand.   What we are seeing now is different.  I think it’s the low interest rates.  I just can’t imagine it getting any better than this for a home buyer. 

Home Prices Are Holding Steady

From month to month, the average price of a sold home in the area is going to fluctuate.  What’s noteworthy about home values in areas 4, 5, and 6 is that despite some bumpy economic times, our home values have remained relatively steady.  Compare Baton Rouge to what’s happened in cities in California and Florida.  We have so much to be thankful for here.  And, I think about that every day.

Inventory Levels are Dropping

While the number of homes sold and the average price is nice to know, what matters most when you list your home for sale is the competition:  How many homes are available that are similar to yours?  We tend to look at historical data because that’s what appraisers must use in determining home values.  But, the buyer for your home can’t buy a home that is already sold.  They choose from the existing inventory. 

When inventory levels are high (greater than a six month supply) most in real estate consider it a buyers market.  When inventory levels are low (less than a 6 month supply), most would consider it a sellers market.  Just look at what’s happened to inventory.  It’s shrinking steadily.  Out of all the numbers to watch this is the most important one. 

If you’re thinking about selling your home, let’s talk about what happening in your neighborhood. 

I don't know how long this will last, but I don't think it gets much better than this.  If you want to know how to find these rates, call, email, or text and I'll get you connected.  If you want to buy a house, I'll help you find one.

For news you can use, KW's this month in real estate has valuable tips for home buyers and sellers.  This month ... get pre-approved, not just pre-qualified, and stay in touch with your lender, insurance company, and realtor throughout the process.  This can be a smooth process and you can close "on time."